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Cogeco Media lays off 25% of staff, La Presse cuts pay as COVID-19 impacts ads – BNNBloomberg.ca

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MONTREAL — Two major Quebec media companies are announcing big cost-cutting measures that they say are necessary to deal with the economic fallout from the COVID-19 pandemic.

Cogeco Media, which operates 23 radio stations in Quebec and Ontario, said today it was laying off 130 people, representing 25 per cent of its workforce. The company says the decision is due to a drop in advertising revenue.

Meanwhile Montreal’s La Presse said today it would implement a 10 per cent salary cut for its unionized employees and its managers until 2021. The not-for-profit news company says it won’t be eliminating any positions.

Thursday’s bad news follows a reorganization announced earlier this week of a co-operative that operates six daily newspapers in the province. The co-operative, known as CN2i, said it would suspend the publishing of its printed editions, and it temporarily laid off 143 people.

In response to the financial difficulties of news organizations, the federal government announced Wednesday it would help struggling media companies.

Ottawa said it would purchase advertising space in news outlets across the country to inform Canadians about COVID-19 and said it would fast-track the implementation of already-announced tax credits for the media.

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Destiny Media: Fiscal 3Q Earnings Snapshot – Times Colonist

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VANCOUVER, British Columbia (AP) _ Destiny Media Technologies Inc. (DSNY) on Wednesday reported fiscal third-quarter profit of $55,000.

The Vancouver, British Columbia-based company said it had net income of 1 cent per share.

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The distributor of secured pre-release music and video posted revenue of $939,900 in the period. Its adjusted revenue was $940,000.

The company’s shares closed at 66 cents. A year ago, they were trading at $1.11.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSNY at https://www.zacks.com/ap/DSNY

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Destiny Media: Fiscal 3Q Earnings Snapshot – The Tri-City News

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VANCOUVER, British Columbia (AP) _ Destiny Media Technologies Inc. (DSNY) on Wednesday reported fiscal third-quarter profit of $55,000.

The Vancouver, British Columbia-based company said it had net income of 1 cent per share.

article continues below

The distributor of secured pre-release music and video posted revenue of $939,900 in the period. Its adjusted revenue was $940,000.

The company’s shares closed at 66 cents. A year ago, they were trading at $1.11.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSNY at https://www.zacks.com/ap/DSNY

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ARHT Media Signs 4 City Network Deal in the Asia-Pacific Region Capture and Display Locations Will Generate Upfront and Recurring Revenues

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TORONTO, July 15, 2020 (GLOBE NEWSWIRE) — ARHT Media Inc. (“ARHT” or “the Company”) (TSXV:ART), is the global leader in the development, production and distribution of high-quality, low latency hologram and digital content.  ARHT is pleased to announce that it has entered into an agreement to supply Hologram Capture and Display technology that will link four separate cities in the Asia-Pacific region enabling enhanced two-way live communication using ARHT’s holopresence technology.

The deal includes an upfront payment for hardware plus ongoing fees for transmissions, using the Company’s ARHT Engine software, as well as for maintenance, software upgrades, training and event support.  The deal is currently scheduled to be delivered in Q3 2020.

“The end game of our business model is to build out permanent installations that generate recurring revenues through multiple streams utilizing our patented software – a true SAAS model,”  stated ARHT CEO Larry O’Reilly, “Based on our current backlog of potential deals we expect to generate over 50% of our revenue in the coming year based on this type of deal structure as compared to one-off events, and that will only increase as the network grows.”

About ARHT Media
ARHT Media’s patented holopresence technology is a complete end-to-end solution that creates a sense of presence for audiences – as though the holographic presenter was actually live in the room. With no noticeable latency, ARHT Media makes two-way live communication with a 3D holographic presenter anywhere in the world possible. We can also playback pre-recorded content and 3D animations on our holopresence displays to deliver rich holographic experiences.  Add to this our capability to stream the same content online on our premium Virtual Global StageTM.

Connect with ARHT Media
Twitter: http://www.twitter.com/ARHTmedia
Facebook: http://www.facebook.com/ARHTmediainc
LinkedIn: http://www.linkedin.com/company/arht-media-inc-

For more information, please visit www.arhtmedia.com or contact the investor relations group at info@arhtmedia.com.

ARHT Media trades under the symbol “ART” on the Toronto Venture Stock Exchange.

Press Contact
Salman Amin
ARHT Media
samin@arhtmedia.com

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, disclosure related to the Company’s sales funnel; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Source: – GlobeNewswire

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